Search Results for: Living Income Differential

CIGCI 1

GHANA AND CÔTE D’IVOIRE RAISE COCOA ORIGIN DIFFERENTIAL PREMIUMS

The world’s leading Cocoa producers have announced that they will effectively raise the price of Cocoa from their respective countries by no longer accepting negative premiums, which they have been forced to do recently. Cocoa farmers in Côte d’Ivoire and Ghana have always struggled to earn a dignified living wage from Cocoa production, despite being …

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Cocobod kwame

GHANA COCOA BOARD ALLEGEDLY LIED ABOUT GHANAIAN COCOA FARMERS’ INCOME?

This entry is part 1 of 3 in the series ARE COCOBOD CHEATING FARMERS?

Is it time for Farmers to get paid in US Dollars? Copyright Note:The content of this publication should not be republished in any shape or form without official consent from the author. You can reach out to the author for publication discussions via Kwame.a.kwarteng@gmail.com. If you want the complete 5000 worded report sent to you …

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ICCO Logo

ICCO MARKET REPORT SHOWS DIFFERENTIALS CONTINUE TO BE SUBDUED

The ICCO released their October market report, which is aimed at informing traders and participants in the financial markets, challenges us with such terms such as “backwardation.” The organisation summarised the key takeaways as: Prices of the nearby contract tumbled by 9% and 6% in London and New York respectively in October.  Compared to their …

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CIGCI 1

CÔTE D’IVOIRE, GHANA FORM WORKING GROUP AS PART OF COCOA MARKET PRICE NEGOTIATIONS

The world’s two largest Cocoa producers, Côte d’Ivoire and Ghana, have noted some progress in their ongoing efforts to secure fair payment for their Cocoa farmers. The West African countries recently announced that they will no longer sell their Cocoa to buyers at such low prices while their farmers struggle to earn a living wage. …

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CCC

CÔTE D’IVOIRE GIVES COCOA BUYERS UNTIL 20 NOVEMBER TO FACTOR LID IN PRICES

The Coffee and Cocoa Council (CCC), the Cocoa regulator in Côte d’Ivoire, has set a deadline of 20 November 2022 for Cocoa buyers to include the Living Income Differential (LID) in their new prices. The LID is $400 per tonne of Cocoa and applies to all contracts sold by both Côte d’Ivoire and Ghana. Cocoa …

CÔTE D’IVOIRE GIVES COCOA BUYERS UNTIL 20 NOVEMBER TO FACTOR LID IN PRICES Read More »

WCF

GHANA AND CÔTE D’IVOIRE BOYCOTT WORLD COCOA FOUNDATION MEETING

The annual partnership meeting of the World Cocoa Foundation, held in Brussels, recently came to an end. The two-day event discussed how to improve supply chains. A particular focus was on sustainability and working with farmers to enable them to earn a living wage This year, for the first time in three years, the meeting …

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USDA

$22M US AID TO BENEFIT SOUTHERN NIGERIAN COCOA FARMERS

The United States Department of Agriculture (USDA) has announced the Food for Progress project, which will provide $22 million in agricultural assistance to Cocoa farmers in six states in southern Nigeria. So far, about 68,000 Cocoa farmers from Osun, Ekiti, Abia, Cross River, Akwa Ibom and Ondo States are expected to benefit from the project. …

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cocoa cote d'ivoire

CÔTE D’IVOIRE ELIMINATES NEGATIVE PREMIUMS ON LATEST CONTRACT

Côte d’Ivoire’s regulator sold 25,000 tonnes of cocoa contracts at a non-negative premium to Cargill last week, industry sources said. Both Côte d’Ivoire and Ghana have traditionally charged country premiums, but after the introduction of the Living Income Differential to alleviate farmer poverty, buyers were unwilling to pay the original premium, and instead applied a …

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cocoa pod

NIGERIA’S ENTHUSIASM TO OUTPERFORM GHANA AND IVORY COAST COCOA PRODUCTION

Since the beginning of 2022, one of the major announcements that dominated news within the cocoa chocolate sector was Nigeria’s announcement to revive its cocoa sector with the ambition to overtake Ghana and Ivory Coast to become the global leader in cocoa production by 2027 and I considered whether this was political rhetoric. However, to not …

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Cocoa Nigeria

NIGERIA ESTABLISHES NEW COMMITTEE TO REGULATE COCOA SECTOR

Nigeria’s government has created a new committee that develops and monitors the country’s Cocoa sector and makes its activities more transparent in the process. The Minister of Agriculture and Rural Development, Dr Mohammad Abubakar, inaugurated the National Cocoa Management Committee (NCMC). The Permanent Secretary of the ministry, Dr Ernest Umakhihe, said this was in line …

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CIGCI 1

COCOA BUYERS AGREE TO CÔTE D’IVOIRE AND GHANA’S PREMIUM SCHEMES

Cocoa-buying companies met with government representatives from Côte d’Ivoire and Ghana on Friday to discuss how they could better combat poverty among farmers. In the meeting, the Cocoa buyers agreed to back a floor price on Cocoa sold from the West African countries. This includes paying a premium, on top of the Living Income Differential …

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mondelez and olam cocoa sustainability

THE CONSEQUENCES OF MONDELEZ/OLAM’S PROJECT ON COCOA FARMERS AND THEIR ECONOMIES

Part Two….. A Possible nepotism/corruption? Mondelez is a chocolate manufacturer, whereas Olam is global cocoa sourcing and cocoa processing firm. With Mondelez’s focus on chocolate manufacturing, it will only make sense to purchase their Cocoa beans (for the bean-to-bar chocolate) or their semi-processed cocoa products for chocolate manufacturing, all from Olam. I do not know …

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